Civic Intelligence

Independence Foundation Inc.

990 • Fiscal year 2022 • EIN 46-1746787

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 14, 2023

Organization ProfileINDEPENDENCEFOUNDATIONINC.ORG
13 S Carrollton AvenueBaltimore, MD 21223

(443) 204-1134

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

84th percentile

0.21x

Higher debt load relative to assets than 84% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

90th percentile

0.37x

Higher debt load relative to revenue than 90% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

38th percentile

-1.0%

Higher net margin than 38% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

44th percentile

-1.0%

Faster asset growth than 44% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

26th percentile

-16%

Faster revenue growth than 26% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$269,063

Down $2,833 (-1.0%) from 2021

Net Assets

Down

$212,656

Down $4,716 (-2.2%) from 2021

Liabilities

Up

$56,407

Up $1,883 (+3.5%) from 2021

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin38th percentile

Revenue

Down

$153,127

Down $29,690 (-16%) from 2021

Expenses

Down

$154,599

Down $50,913 (-25%) from 2021

Net Income

Up

-$1,472

Up $21,223 (+94%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0Assets 2014: $1Liabilities 2014: $02014Assets 2016: $0Net Assets 2016: $18,5182016Assets 2017: $261,915Liabilities 2017: $48,034Net Assets 2017: $213,8812017Assets 2018: $260,807Liabilities 2018: $41,363Net Assets 2018: $219,4442018Assets 2019: $257,771Liabilities 2019: $22,087Net Assets 2019: $235,6842019Assets 2020: $298,424Liabilities 2020: $58,357Net Assets 2020: $240,0672020Assets 2021: $271,896Liabilities 2021: $54,524Net Assets 2021: $217,3722021Assets 2022: $269,063Liabilities 2022: $56,407Net Assets 2022: $212,6562022Assets 2023: $257,807Liabilities 2023: $54,573Net Assets 2023: $203,2342023Assets 2024: $252,275Liabilities 2024: $47,306Net Assets 2024: $204,9692024

Highlighted filing

2022

Assets$269,063
Liabilities$56,407
Net Assets$212,656
Open 2022 Filing

Operations Trend

Revenue Growth26th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2014: $0Expenses 2014: $0Net Income 2014: $02014Revenue 2016: $199,880Expenses 2016: $181,362Net Income 2016: $18,5182016Revenue 2017: $396,324Expenses 2017: $416,361Net Income 2017: -$20,0372017Revenue 2018: $341,180Expenses 2018: $335,617Net Income 2018: $5,5632018Revenue 2019: $283,659Expenses 2019: $267,419Net Income 2019: $16,2402019Revenue 2020: $288,877Expenses 2020: $284,494Net Income 2020: $4,3832020Revenue 2021: $182,817Expenses 2021: $205,512Net Income 2021: -$22,6952021Revenue 2022: $153,127Expenses 2022: $154,599Net Income 2022: -$1,4722022Revenue 2023: $162,171Expenses 2023: $171,593Net Income 2023: -$9,4222023Revenue 2024: $193,463Expenses 2024: $191,728Net Income 2024: $1,7352024

Highlighted filing

2022

Revenue$153,127
Expenses$154,599
Net Income-$1,472
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$153,127
Mission and Program Overview

Mission

We enhance stability and financial freedom through skill acquisition for children and adults in underserved communities to promote self- determination and independence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$267,588$260,416▼ $7,172
Rtn Earn Endowment Incm Other Fnds$217,372$212,656▼ $4,716
Loans From Officers Directors$40,255$45,461▲ $5,206
Cash and Non-Interest-Bearing Accounts$4,308$8,647▲ $4,339
Total Assets$271,896$269,063▼ $2,833
Liabilities
Other Liabilities$14,269$10,946▼ $3,323
Total Liabilities$54,524$56,407▲ $1,883
Net Assets / Fund Balance
Total Net Assets Fund Balance$217,372$212,656▼ $4,716
Total Liabilities and Net Assets / Fund Balance$271,896$269,063▼ $2,833

Asset Categories

AssetBook ValueDepreciationBasis
Land$250,000-$250,000
Equipment$10,416$40,979$51,395
Other Land Buildings-$6,000$6,000
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Vincent MartinChairman
Micheal PopeVice-chairma
Hakim AliDirector
Lavon MagruderDirector
Tashawna FennellSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$153,127
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-1,472
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$78,974
Salaries, Compensation, and Employee Benefits$75,625
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$75,625--$75,625
Insurance-$29,401-$29,401
Depreciation Depletion-$7,172-$7,172
Office Expenses-$6,730-$6,730
All Other Expenses-$5,198-$5,198
Other Expenses-$3,010-$3,010
Fees for Services Accounting-$2,000-$2,000
Advertising-$841-$841
Interest-$643-$643
Travel-$131-$131
Total Functional Expenses$75,625$78,974$0$154,599
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$40,255$45,461▲ $5,206
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Auto Loan Payable - 2017 Audi$10,946
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Independence Foundation Inc
EIN
46-1746787
Phone
4432041134
Address
13 S CARROLLTON AVENUE, BALTIMORE, MD 21223

Signing Officer

Name
Lavon Magruder
Title
Director
Phone
4432041134
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lavon Magruder
Formed
2013
Legal Domicile
Md
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
1

Preparer

Firm
Ak & Associates Pa
Address
3300 N RIDGE RD SUITE 380, ELLICOTT CITY, MD 21043
Preparer
Albert Kim
Phone
4107191000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Book adjustment for prior years -3,244”

Raw XML Appendix325 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$269,063
Liabilities
$56,407
Net assets
$212,656
Revenue
$153,127
Expenses
$154,599
Net income
-$1,472
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.52$0.47$2.05$1.93$1.92$0.02
2023Detailed filing. Detailed filing data is available for this year.$2.58$0.55$2.03$1.62$1.72$0.09
2022Detailed filing. Detailed filing data is available for this year.$2.69$0.56$2.13$1.53$1.55$0.01
2021Detailed filing. Detailed filing data is available for this year.$2.72$0.55$2.17$1.83$2.06$0.23
2020Detailed filing. Detailed filing data is available for this year.$2.98$0.58$2.40$2.89$2.84$0.04
2019Detailed filing. Detailed filing data is available for this year.$2.58$0.22$2.36$2.84$2.67$0.16
2018Detailed filing. Detailed filing data is available for this year.$2.61$0.41$2.19$3.41$3.36$0.06
2017Detailed filing. Detailed filing data is available for this year.$2.62$0.48$2.14$3.96$4.16$0.20
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.19$2.00$1.81$0.19
2014Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00